BUSINESS

Cooks completes acquisitions

Wednesday 16 October 2013, 1:28PM
By Pead PR
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Cooks Global Foods (Cooks) is pleased to advise it has today completed the acquisitions of Franchise Development Limited, Esquires Coffee (UK) Limited, Esquires Coffee Houses Ireland Limited and the business and assets of Progressive Processors Limited. The acquisitions have been completed in accordance with the terms of the shareholder approval obtained on 1 October.

In addition Cooks has today:

  • Issued approximately 37.1 million new shares to raise approximately $3.6 million in new capital.
  • Issued approximately 23.4 million new shares to capitalise debts of approximately $3.5 million.

  • Converted all convertible preference shares on issue to ordinary shares, resulting in the issue of 7,398,304 ordinary shares.

 

 

Full particulars of these transactions are set out in the notice of meeting announced to the market on 17 September 2013. Full particulars of the shares allotted today are set out below.

Cooks chairman Keith Jackson says completing these transactions is a significant milestone.

“We now have a strong platform from which to pursue growth. We have further potential acquisitions identified which we will now pursue with the expertise of our new Board and executive team.”